INSPECS Group (LON:SPEC) Trading Down 3.5% – Here’s What Happened

INSPECS Group plc (LON:SPEC) dropped 3.5% during mid-day trading on Thursday . The stock traded as low as GBX 68.03 and last traded at GBX 68.03. Approximately 40,262 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 59,806 shares. The stock had previously closed at GBX 70.50.

Wall Street Analyst Weigh In

Separately, Peel Hunt restated an “add” rating and set a GBX 60 price target on shares of INSPECS Group in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 60.

INSPECS Group Trading Down 3.5%

The company has a quick ratio of 0.89, a current ratio of 1.46 and a debt-to-equity ratio of 43.59. The firm has a market capitalization of £69.16 million, a P/E ratio of -8.44 and a beta of 2.22. The firm’s 50-day simple moving average is GBX 72.15 and its 200-day simple moving average is GBX 54.62.

About INSPECS Group

Inspecs is a designer, manufacturer and distributor of eyewear frames. The Group produces a broad range of frames, covering optical, sunglasses and safety, which are either “Branded” (either under licence or under the Group’s own proprietary brands), or “OEM” (including private label on behalf of retail customers and un-branded). As one of only a few companies that can offer this one-stop-shop solution to global retail chains, Inspecs is well positioned to continue to take market share in the globally expanding eyewear market.

Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 30,000 points of sale.